It had previously done most of its marketing around special, fixed-term rates.
But chief executive Paul Brock said that because interest rates were low across the board, the bank wanted to focus on ways that it could help borrowers pay down their loans more quickly.
The offset product allows customers to use their savings, and those of other family members, to offset the total balance of the loan.
Brock said: “The offset product enables customers to significantly reduce the amount of the loan incurring interest charges. We calculate savings over the term of a loan of $30,000 to $40,000, and much shorter repayment periods.”
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